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Senate s directive on N300bn refund | Tribune Online

Share PENULTIMATE week, the Senate approved the 2015 report of its committee on Public Accounts which indicted 59 ministries, departments and agencies (MDAs) of the government, asking them to return over N300 billion to the Federation Account. In addition, it faulted the Nigerian National Petroleum Corporation (NNPC) over its non-remittance of N3.8 trillion realised from crude oil sales in 2015 alone while mandating the anti-graft agencies, the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to go after the government officials responsible for diverting funds during the year under review. For over a year, the Senate Committee on Public Accounts had been investigating the expenditures by federal government agencies from 2015 – 2018 based on audit report by the Auditor-General for the Federation.

NAICOM Approves New Board for NICON Insurance, Nigeria Reinsurance

Ndubuisi Francis in Abuja The National Insurance Commission (NAICOM) has approved the new boards and managements of NICON Insurance Limited and Nigeria Reinsurance Corporation (Nigeria Re). That was as Director General of the Bureau of Public Enterprises (BPE), Mr. Alex Okoh, lamented what he described as the decay at NICON insurance, saying the company is one of the few bad cases of privatisation in the country. Head, Corporate Communications Department, Asset Management Corporation of Nigeria (AMCON), Jude Nwauzor, disclosed the approval to the change of NICON Insurance and Nigeria Reinsurance boards in a statement. The statement said the changes were to enhance the smooth running, efficient and effective management of the two firms.

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